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<Research> M Stanley: FWD (01828.HK) 1Q New Business Value Growth In Line; Rated Overweight
Recommend 4 Positive 2 Negative 6 |
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Morgan Stanley issued a research report stating that FWD (01828.HK) reported 1Q new business value growth of 7% YoY at constant exchange rates, in line with the brokers expectation of 6% growth. Emerging markets and Japan were the key growth drivers, while Hong Kong still recorded 1% growth on an exceptionally high base. Thailands annualized premium equivalent in 1Q declined 6% YoY, but management expects full-year growth to remain positive. Excluding the impact of low interest rates in Thailand, the Groups new business value growth reached 15%. M Stanley said FWDs 1Q results were in line with expectations, with growth momentum and operating quality continuing to improve. The broker maintained an Overweight rating on FWD with a TP of HKD42.5. (ec/da) This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
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